In 2017, 10 of the world’s billionaires — fewer than 1 percent — are black, down from 12 last year, reports Forbes contributor Mfonobong Nsehe. Three of the 10 are women. All but one, Isabel Dos Santos, are billed by Forbes as self-made.

To compile the full list, Forbes uses stock prices and exchange rates to estimate the net worths of the world’s richest people, and then ranks them based on their wealth. This year’s list was created using data from Feb.17, 2017, but Forbes also maintains a current snapshot of the world’s billionaires, updated daily.

1. Mohammed Ibrahim: $1.14 billion

Ben Curtis/AP

Self-made billionaire 71-year-old Mohammed Ibrahim was born in Sudan and now lives in the United Kingdom, where he is the 11th wealthiest citizen. Ibrahim became a billionaire after selling his telecommunications company, Celtel International, in 2005, according to Forbes. Now he spends much of his time focusing on improving the lives of African citizens through the Mo Ibrahim Foundation.

2. Michael Jordan: $1.31 billion

Chuck Burton/AP

One of the most successful athletes of all time, Michael Jordan, 54, made a total of $90 million as a basketball player, according to Forbes. Since retiring from the NBA, he has amassed the majority of his wealth through his relationship with Nike and other corporate partnerships. Jordan, who also owns a stake in the Charlotte Hornets, now makes more in one year than he did during his entire professional basketball career, as Business Insider’s Cork Gaines reported.

3. Folorunsho Alakija: $1.61 billion

AP

Folorunso Alakija, vice chair of Nigerian oil company Famfa Oil, got her start in business as the founder of an elite Nigerian fashion label, according to Forbes. The 66 year-old self-made billionaire lives in Lagos, Nigeria, and has four children. Her son, Folarin Alakija, recently married Iranian model Nazanin Jafarian Ghaissarifar, in a lavish, multi-million dollar wedding, which took place in England.

4. Patrice Motsepe: $1.81 billion

Getty/Handout

South-African Patrice Motsepe, 55, founder of the mining company African Rainbow Minerals, was Africa’s first black billionaire. The father of three was also the first African to sign Bill Gates’s Giving Pledge, promising to donate at least half of his wealth to charity. Motsepe and his wife Precious created the Motsepe Foundation in 1999 to help create new jobs, support education and improve the lives of children, the unemployed and the disabled, among others.

7. Isabel Dos Santos: $3.1 billion

Ian Gavan | Getty

The wealthiest of the three woman to make this list, and the youngest black billionaire in the world, 44 year-old Isabel Dos Santos is the daughter of Jose Eduardo dos Santos, who has been president of Angola since 1979. Her fortune comes from multiple investments, many of which are controversial and linked to her father, according to Forbes, although Dos Santos maintains her investments are private and independent.

8. Mike Adenuga: $6.1 billion

Afolabi Sotunde/Reuters

Nigerian Mike Adenuga, 64, is chairman of telecommunications company Globacom, which has 36 million subscribers, as well as the majority owner of Lagos-based oil company Conoil, according to Bloomberg. While earning an MBA from Pace University in New York, he drove a taxi to pay the bills. Today, Adenuga, who has seven children, is the second-wealthiest man in Nigeria, according to Forbes.

9. Mohammed Al Amoudi: $8.4 billion

Mohammed Hussein Al Amoudi, 71, moved from Ethiopia to Saudi Arabia when he was 19, and began amassing his fortune from government-contracts in real estate and construction, according to Bloomberg. Now, the father of eight owns businesses across multiple industries, including oil, mining and agriculture, in Saudi Arabia, Ethiopia and Sweeden.

10. Aliko Dangote: $12.2 billion

Ben Gabbe/Getty

The wealthiest man in Africa is Nigerian Aliko Dangote, 60, who has been CEO and president of Dangote Group for 35 years. The majority of his fortune comes from a more than 90 percent stake in Dangote Cement, Africa’s largest producer of cement, which is traded on the Nigerian Stock Exchange. He is also an active philanthropist, serving as chairman of The Dangote Foundation, which focuses on education, agriculture and health-related initiatives.

From Broke to Billions: 5 Strategies These Billionaires Used to Get Rich

There are 2,043 billionaires in this world. Approximately one-quarter of them are from the US. Millionaires? We boast roughly 16 million of them. Clearly, it’s hard to amass such a large fortune. In fact, when it comes to getting rich, a billion is an order of magnitude greater than a million. Millionaires seem to be a dime a dozen. Not billionaires.

When a person can amass such an unfathomable amount of wealth, it piques the interest of our global population, much of them steeped in poverty rather than wealth. But does that mean we should be envious or enraged at the people at the proverbial top? The truth? Whether you’re a victim or a champion of our capitalistic society largely depends on your financial situation.

Some of us look at those who’ve attained such unimaginable wealth with disdain. Others, with envy. Me? I want to know how they did it. I want to understand the inner workings of their minds. How did they navigate their way to such sensational success? How did they avoid all the perils and pitfalls that seem to entangle much of our civilization?

I have immersed and inserted myself into a circle of individuals to specifically answer this question. I’ve surrounded myself with people living life at the highest level because I am curious how they did it. Is there some secret sauce? Some magic formula? Some unknown principles or techniques?

I want to know how they did it, kept it and grew it. Making money isn’t as complex as most people make it out to be. Sure, there is a so-called guru gauntlet that most find themselves a victim of when trying to discover the real secrets to making money online these days. But that’s not really what I was interested in.

I was interested in things that moved the needle. How did the world’s billionaires get so rich? How did they harbor such intense self-discipline? You often read about advice or listen to a talk that these individuals give, but most of it goes in one ear and out the other. Do we follow much of that advice? Nope. It often falls to the wayside. We live on, steeped in detrimental habits that hold us back.

However, before I launch into the strategies that a handful of billionaires used to get rich, I wanted to convey one very powerful piece of advice. Thoughts are things. There is pure power in your thoughts. Use them constructively. They can either limit you or they can propel you. if you focus on positivity, good things will happen. Focus on the negative, and watch as your life spirals downward.

What it takes to become a billionaire.

You’re likely asking yourself what it takes to get rich. But not just rich. Rich at the highest level. How do you go from broke to billionaire? Most people might simply want to have positive cash flow or even a million dollars in the bank. But does a million dollars really cut it these days? I suppose that depends on where you live and what you do.

But billionaires are a different breed. It’s a different world. Spending time with them is more likened to fabled fantasies rather than actual reality. The world truly is their oyster. Now, if you want to get there, or you’re just looking to become a multi-millionaire, there are some strategies that will propel your growth.

In fact, there are five strategies these billionaires have used to go from broke and hopeless, to absolutely on top of the world. If you’re looking to replicate their success, then you need to heed the following strategies and take them to heart. One other thing to keep in mind is that you’re far less likely to attain this type of success without owning your own business.

But if you’re already an entrepreneur or a business owner, then it’s a matter of adapting. Not only do we adapt to survive, but we must also adapt to thrive. Look at the following strategies and see how you can adapt them to your business, or to potentially pivot your business to strike while the proverbial iron is hot in one sector or another.

Most people think that it’s impossible to go from broke to billionaire. But it’s been done repeatedly. Individuals including Roman Abromovich, Francois Pinault, Howard Schultz, Oprah Winfrey, Shahid Khan, Do Won Chang, Ralph Lauren, John Paul DeJoria, Larry Ellison and Mohed Altrad were once flat broke. But they all became billionaires.

How did they do it? First, and foremost, by harboring the following skills. And second, by wielding one of the five strategies that you’ll find below. As you read the list and the strategies, ask yourself the following question. How many of these skills am I employing and how can I adapt these strategies to my business today, right now?

1. Create something that adds an abundant amount of value to the world.

Today, as it’s been for all our recorded history, getting rich entails building and adding an abundant amount of value to the world. The richest and most successful people have added the most value. That’s how real wealth is attained. Find some way that you can add an excessive amount of value to the world. This is not a short-term strategy. This takes time.

But it also involves seizing opportunities as they arise. Patagonia founder Yvon Chouinard got incredibly rich not by inventing new products, but by improving on existing products. While Patagonia is a giant clothing retailer today, at the age of 50, Chouinard’s company went bankrupt after the fallout from a series of lawsuits.

However, Chouinard stayed the course. He added value. Improved on iterations of products to make them better for the environment, longer lasting, and higher in quality. That’s how Patagonia grew into a behemoth. He added an abundant amount of value.

2. Create a consumable product that people love.

There are a number of industries in consumable products that are simply taking off like wild fire. From cold-brewed coffee to energy shots and drinks and even electronic cigarettes have become industries that have begun to balloon. Manoj Bhargava, founder of the 5-Hour Energy Drink, grew his business from a 2003 startup to over $1 billion in sales by 9 years later.

In 2010, Howard Panes was $600,000 in debt and lost his house to a short sale when he entered into the e-cigarettes industry, ramping it up within 18 months to over $100 million in sales. Several years later, after an astounding exponential growth, Japan Tobacco International, a corporate giant with 27,000 employees and $20 billion in annual revenue acquired the company.

With no experience in the industry, Panes, like Bhargava, did what it took to see things through, traveling and living in Shenzhen, China where the company refined its product and delivery systems. Today, as an avid car collector with a near-$15 million collection of rare and exotic hypercars, Panes has become one of South Florida’s wealthiest residents.

John Paul Dejoria, who was not only once broke, but also homeless and living in his car with his son, also did the unimaginable. He created salon-quality products and went door to door to sell them. He focused on quality and he took action every single day. At the age of 36, with a $700 loan and while living in a car with his son, he grew Paul Mitchell Systems into a behemoth, becoming one of the world’s richest persons in the process

3. Insert yourself as a service provider into a high-growth industry.

We saw AirBnB grow from obscurity and blow-up air mattress rentals on floors into a global behemoth, making its three founders, Brian Chesky, Nathan Biecharczyk and Joe Gebbia, who were all once broke, into billionaires. AirBnB blazed a trail. But they weren’t the first. Vacation rentals had already begun to take off, but VRBO was first. Yet, AirBnB did it better.

The goal? Identify a high-growth industry and become a service provider. Whether that’s vacation rentals, ecommerce, financial services, insurance, virtual reality, chat bots, or any other industry for that matter, insert yourself into the industry by finding a unique way that you can provide the same service, but better, more efficiently and with greater reliability.

You could also find a way you can cater to the rich themselves by building up a service that attracts wealthy individuals. Whether that means renting out exotic cars, private jets, or becoming a global concierge for the uber wealthy like Annastasia Seebohm’s Quintessentially Group, find a way you can do something more effectively than everyone else around you.

Kenny Trout, the founder of Excel Communications, achieved his success in the early telecom industry by becoming a long-distance reseller after deregulation took hold, selling over 200,000 franchises using the multi-level marketing model. Trout, who grew up with a dad who worked as a bartender, never had much money. He sold life insurance early on and identified a high-growth industry that he trail-blazed his way into.

4. Find a way to improve communications or connection online.

Mark Zuckerberg became one of the world’s wealthiest individuals by improving connection and communications online. Today, we all know about the success of Facebook. But Zuckerberg was never poor or broke. He hailed from an upper-middle-class heritage.

However, what’s most intriguing is the story of What’sApp founder, Jan Khoum. In 2007, while working at Ernst & Young, and shortly after the launch of the iPhone, Khoum, who was an immigrant from Ukraine, where he was born, decided to create a communications app with Brian Acton that was released in January of 2010.

Khoum, who had been passed over for a job at Facebook just shortly prior, grew WhatsApp into a wildly popular communications application that was later acquired by Facebook for $19 billion. Like other billionaires, Khoum seized on the new industry and identified an opportunity that others might have missed.

5. Invest in real estate and grow your portfolio over time.

Real estate has given a platform to the world’s richest individuals. If you think that making money through real estate is impossible, especially if you have no money to start with, then you’ve got a few lessons to learn. Some of the biggest real estate moguls in the world have started with nothing. It’s called wholesaling and creative financing. Once you understand it, it truly can propel tremendous growth.

The goal is to focus on positive cash flow. Like Robert Kiyosaki’s iconic, Rich Dad Poor Dad book and series, discover how to create assets rather than liabilities. Whether you just want to be a millionaire or a billionaire, real estate will give you a solid foundation or platform from which you can grow.

Leon Charney became a billionaire through his real estate investments. But he was the child of two immigrants, and at the time of his father’s death, his family became destitute. He had nothing, and he worked his way through college and through law school.

Carl Berg, another billionaire real estate investor, also lost his father early on and was raised by his mother who was a school teacher. While working at a hotel, he met someone who turned out to be the largest home builder in the United States, who later offered him a job to run his mortgage company after he graduated from college.

And with inheritance tax in the U.K. set at 40 percent on all values over £325,000 ($425,000), it’s clear why many members of the super-rich elite would rather their money went towards more worthwhile causes.

Business Insider has compiled a list of 12 high-profile millionaires and billionaires — some of whom are the world’s biggest business magnates — who won’t be signing over their fortunes to their kids in their will.

Whether the money’s going to worthy causes or they’re simply planning on spending every last penny themselves, scroll on to discover 12 high-profile billionaires and millionaires who aren’t leaving a penny to their children — ranked in ascending order by their net worth.

1. Nigella Lawson — $15 million

AP/Sang Tan

Nigella Lawson is a food writer, TV personality and journalist. Lawson was one of the pioneers behind the 21st-century “food porn” revolution with her books including Feast, Nigella Express and How toBe a Domestic Goddess. Lawson is worth an approximate $15 million (£11.5 million), according to The Richest.

Lawson has two adult children from her first marriage and one step-daughter from her second marriage to advertising mogul Charles Saatchi, which ended in 2013.

In an interview with My Weekly in 2008, during her second marriage, Lawson said: “I am determined that my children should have no financial security. It ruins people, not having to earn money.

“I argue with my husband Charles, because he believes that you should be able to leave money to your children. I think we’ll have to agree to disagree.”

2. Gordon Ramsay — $160 million

AP/Richard Shotwell/Invision

Owning and operating 40 restaurants around the globe with 16 Michelin stars between them, Gordon Ramsay is one of the biggest names in the British restaurant industry. The well-renowned celebrity chef has a strong TV presence and has made $60 million so far this year thanks to shows such as “MasterChef USA,” “MasterChef Junior” and “Hell’s Kitchen.”

The father of four has no intention of leaving his fortune to his children, who still sit in economy on flights while Ramsay and his wife, Tana, peel off for first class: “It’s definitely not going to them,” Ramsay told The Telegraph.

“And that’s not in a mean way; it’s to not spoil them. The only thing I’ve agreed with Tana is they get 25 percent deposit on a flat, but not the whole flat. I’ve been super lucky, having that career for the last 15 years in the U.S. Seriously, it has earned a fortune and I’ve been very lucky, so I respect everything I’ve got,” Ramsay said.

3. Sting — $300 million

Reuters/Norsk Telegrambyra/AS

Sting is a musician best known for being the frontman of rock band The Police. The singer has received 16 Grammy Awards, three Brit Awards, a Golden Globe, and an Emmy Award. He has an approximate net worth of $300 million (£229 million), according to The Richest.

The father of six publicly declared that his children will not inherit a penny of his vast fortune in an interview with the Mail in 2014. He said: “I told them there won’t be much money left because [my wife and I] are spending it! We have a lot of commitments. What comes in we spend, and there isn’t much left. I certainly don’t want to leave them trust funds that are albatrosses round their necks. They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate.”

“The boys live the most incredible lives, they’re not normal kids, and I’m not pretending they are. But you have to have some semblance of normality, some respect for money, some respect for work.”

The couple have borrowed from the Warren Buffett school of inheritance — the second richest man in the world, who also features on this list. Elton John said: “[Buffett] has a really cool model in that he leaves his children enough money so that they have a house, a car and all their basic needs covered and cared for so they never need worry. But it’s not crazy, silly, go-wild money so that they could be buying Picassos or private jets.”

5. Simon Cowell — $550 million

Simon Cowell is a television and music producer, most famous for “The X Factor,” “Britain’s Got Talent” and “America’s Got Talent.” His annual salary is estimated at $95 million, according to Forbes, and he has a net worth of approximately $550 million, according to The Richest.

In an interview with Esquire in 2013, Cowell said: “I don’t believe in passing on from one generation to another. Your legacy has to be that hopefully, you gave enough people an opportunity, so that they could do well, and you gave them your time, taught them what you know.”

Although it’s unclear whether Cowell still holds the same beliefs (the interview was conducted before the birth of his son Eric in early 2014), Cowell is expected to forward the vast majority of his fortune on to charities benefitting animals and children after his death.

6. Andrew Lloyd Webber — $1.2 billion

Reuters

Andrew Lloyd Webber is the musical theatre composer behind award-winning, long-running shows such as “The Phantom of the Opera,” “Cats” and “Joseph and the Technicolour Dreamcoat.” The composer — with seven Tonys, three Grammys, an Academy Award and a knighthood — has an approximate net worth of $1.2 billion, according to The Richest.

The father of five told the Daily Mirror in 2008 that he didn’t plan to pass his vast fortune on to his children: “They aren’t bothered. They don’t think that way. It is about having a work ethic — I don’t believe in inherited money at all.

“I am not in favour of children suddenly finding a lot of money coming their way, because then they have no incentive to work,” he said.

Instead, he wants to invest his fortunes into musical projects after his death — although he has no finite plans for the time being.

On the topic of inheritance, he said: “It is extremely likely that my wife Madeleine will outlive me so I will leave the problem with her.”

7. George Lucas — $5.3 billion

Reuters/Dylan Martinez

Best known for creating the “Star Wars” and “Indiana Jones” sagas, George Lucas is an American TV and film producer. After selling the Star Wars franchise and his production company “Lucasfilm” — both of which Lucas owned 100 percent of the rights to — to The Walt Disney Company for $4.05 billion in 2012, Lucas saw his net worth rocket to $5.3 billion.

The father of four has one adopted daughter from his first marriage, two further adopted children and a fourth daughter, born in August 2013, with second wife Mellody Hobson.

However, a spokesperson for Lucas told the Hollywood Reporterthat the majority of the funds made from the deal would go toward educational philanthropy projects.

Lucas founded the George Lucas Educational Foundation, also known as Edutopia, which aims to research and improve educational practices used in schools in order to make sure that children are gaining the absolute most from their education.

8. Pierre Omidyar — $10.1 billion

Flickr/Pierre Omidyar

Pierre Omidyar founded eBay in 1995 and served as chairman of the online auction company until 2015. Omidyar is gradually selling his stakes in the company as he reduces his role within the brand. He is currently worth $10.1 billion according to Forbes.

Omidyar’s current ventures include a technology venture capital firm, an investigative journalism platform and a philanthropy network called the Omidyar Network.

Omidyar and his wife Pam, who have three children, signed the Giving Pledge in 2010 — a campaign set up by Warren Buffett and Bill and Melinda Gates in the hope of encouraging the super-rich elite to donate the majority of their fortunes to charitable causes. So far, the campaign has over 150 signatures from billionaires and the super-rich.

In their pledge letter, the Omidyars said: “Our view is fairly simple. We have more money than our family will ever need. There’s no need to hold onto it when it can be put to use today, to help solve some of the world’s most intractable problems.”

9. Michael Bloomberg — $47.1 billion

Reuters/Henry Romero

Michael Bloomberg is the founder and CEO of software, data, and media company Bloomberg L.P. and the 10th richest person in the world with a net worth of $47.1 billion according to Forbes.

Bloomberg co-founded the eponymous company, whose facets include financial software, a news platform, a TV network, three magazines, one Manhattan skyscraper and a soon-to-be £1 billion second HQ in London. Michael Bloomberg retains a 88 percent stake in the business.

The business magnate and former mayor of New York City has publicly announced that he hopes to give away his entire fortune before he dies — the majority of which will be donated to his self-titled philanthropic initiative Bloomberg Philanthropies.

10. Mark Zuckerberg — $74 billion

After welcoming his first daughter, Max, into the world with wife Priscilla Chan in December 2015, Zuckerberg publicised the child’s birth by posting an announcement on Facebook. In the post, Zuckerberg declared that he and his wife would be donating 99 percent of Max’s inheritance to charity.

The post, addressed to Max, said: “We want you to grow up in a world better than ours today,” adding, “we will do our part to make this happen, not only because we love you, but also because we have a moral responsibility to all children in the next generation.”

11. Warren Buffett — $78.9 billion

Reuters/Rick Wilking

Warren Buffett is the second richest man in the world with a staggering net worth of $78.9 billion, according to Forbes.

Buffett made his name as an investor and serves as the CEO and Chairman of Berkshire Hathaway — a company that owns or holds stakes in dozens of companies including Kraft Heinz, American Express, Duracell and even Apple. Buffett has been named “one of the most successful investors of all time” by Forbes.

Buffett is a keen philanthropist and plans on pledging 100 percent of his vast fortune to various charities when he dies, leaving nothing to his children.

Rather than handing each of his three children money directly into their pockets, Buffett has instead promised to give approximately $2.1 billion (£1.6 billion) of Berkshire Hathaway stock to each of his children’s charities as rewards for the success of the foundations.

The majority of his fortune will go to the Bill and Melinda Gates Foundation, with a percentage also going to the Susan Thompson Buffett Foundation that the tycoon founded with his first wife.

12. Bill Gates — $89.6 billion

Reuters/Rick Wilking

Like many of the world’s richest billionaires, Miscrosoft founder Bill Gates is a keen philanthropist and plans to pass on the vast majority of his $89.6 billion fortune to charitable causes. Gates and his wife Melinda own the world’s largest private charitable foundation — The Bill & Melinda Gates Foundation — which works to “help all people lead healthy, productive lives.”

Gates’ three children have inherited their father’s philanthropic gene, and are reportedly happy to not be inheriting their father’s fortune. In a Reddit AMA, the Microsoft magnate said his children will inherit just $10 million each — equivalating to 0.01116 percent of his fortune.

In the AMA, Gates said: “I definitely think leaving kids massive amounts of money is not a favour to them. Warren Buffett was part of an article in Fortune talking about this in 1986 before I met him, and it made me think about it and decide he was right.”

How to Use Budgets as Disciplinary Tools For A Comfortable Life

Making a budget on your income is very important. Many people don’t spend time to make monthly budgets for their expenses because they think it’s a lot of work. You must see that budget making is not actually a strain on your life, rather see budget as a necessary tool that will maximize the limited monetary resources you have. This is because a budget can determine how you allocate your money based on your savings plan and your level of income.

Before you create your monthly budget, you must determine your monthly income first. If you have a fixed salary you can use that amount as the starting point of your budget. However if you make other bonuses you could exclude that. It will boost your willingness to follow your budget strictly.

A savings target is very important. Before you allocate funds for spending, first of all make sure you set aside an amount for saving. This amount should be targeted for your future goal such as buying a home, retirement or any other big purchases. It is also advisable to create multiple savings accounts for multiple goals. However if you aren’t yet sure of the specific goal you want to save for, you can save at least 15% of your after-tax income. This will at least provide you with a safety cushion and some retirement savings while you work to establish your goals and life plan.

On the other hand if you make a significant portion of your income from commissions, you will need to use your best judgement and use a conservative percentage. Let’s say 60-80% of your commission income from the last 6-12 months. The more confident you are in maintaining the commission, the higher percentage you may use.

Budget for spending also comes next. Spending budget can be categorized into two: the needs and the luxuries. Needs must always be first to be budgeted for. The luxuries on the hand can be cut down on sometimes.